Canadian Discovery Ltd. (CDL) recently launched CATALYST, its latest product for the upstream oil and gas industry, which has the capability of saving clients time by allowing them to focus on evaluations and decisions rather than on data collection.
An update to CDL’s EDGE software, Catalyst has many new features built-in that make it an industry-leading tool for scoping potential acquisitions. CDL has created a platform in which intelligence data are aggregated, saving CATALYST clients time, so they can quickly make informed decisions.
During the launch, CDL demonstrated an assessment of a potential acquisition in the northern Montney. The target lands are located in the Laprise and Jedney strike areas, which are located in the CDL-defined Montney Beg play area. Using CATALYST, the client can quickly see the following characteristics of the Beg play area:
CATALYST has type curves and Estimated Ultimate Recoveries (EUR) for the Beg play area. A P50 well is predicted to have an initial production rate of 730 boe/d (64% gas) and an EUR of 950 mboe. For P10 and P90 wells, the expected IPs would be 1,705 boe/d and 210 boe/d, respectively, with EURs of 2,140 mboe and 216 mboe.
CATALYST includes EUR maps for each of the major resource plays to show the areas with the highest potential. The Montney EUR map in the Beg play area shows hot spots associated with the clusters of the most productive wells.
Beg EUR Map
The top five operators in the Beg play area are Progress Energy, Storm Resources, Shell Canada, Black Swan Energy and Painted Pony. CATALYST can display each operator’s results with respect to IP, EUR and drilling and completions costs. The drilling and completions costs are calculated using a proprietary algorithm particular to each resource play using TD, TVD, drilling days, proppant amount, fluid volume, fluid type and technology as variables. The cost estimates compare very favourably to actual costs that operators see in the field.
CATALYST is able to zoom in further to block 94-G-8 or any other area to compare operators in and around potential acquisition lands.
In less than 30 minutes, CATALYST provides the high-level parameters to effectively scope a property or asset for the decision to investigate further or move on.
CATALYST officially launched, on Thursday, October 29.